APRIL 10, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
While the pace of COVID-19-responsive regulatory action has slowed this past week, there was an increase in the number of states addressing and/or encouraging auto insurance discounts and/or premium relief to reflect exposure reductions generated by stay-at-home orders. Aside from that, states…
Earnings Releases and Investor Calls in Light of COVID-19: SEC Chairman and Director of Corporation Finance Issue Joint Public Statement
On Wednesday, April 8, 2020, the SEC Chairman, Jay Clayton, and Director of the SEC’s Division of Corporation Finance, William Hinman, released a joint public statement emphasizing the importance of disclosures from public companies in light of COVID-19. As noted in the statement, “In the coming…
COVID-19 UPDATE: SBA Issues Updated Lender and Borrower PPP FAQs
The Paycheck Protection Program (the “PPP”) established under the Coronavirus Aid, Relief and Economic Security (CARES) Act authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. We have published information on PPP here. The U.S…
TDI Postpones Implementation of Corporate Governance Annual Disclosure
April 9, 2020
by Burnie Burner
The Texas Department of Insurance issued Commissioner's Bulletin # B-0018-20, postponing the filing of the Corporate Governance Annual Disclosure required by H.B. 3300 passed by the Legislature in 2019. The required disclosure is based on the NAIC Model Bill and is now Chapter 831 of the Insurance…
Asbestos/Bodily Injury Claims: Montana Supreme Court Addresses Preemption/Strict Liability Issues
Co-Author: Luke Vance The Montana Supreme Court (“Court”) in a March 11th Opinion addressed issues arising out of asbestos bodily injury claims against BNSF Railway Co. (“BNSF”). See BNSF Railway Co. v. Eddy, 2020 WL 1164045 (Mont. 2020). The issues considered on appeal included: Did the Asbestos…